ING Groep NV Sells 13,095 Shares of McCormick & Company, Incorporated (NYSE:MKC)

ING Groep NV reduced its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 38.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,610 shares of the company’s stock after selling 13,095 shares during the quarter. ING Groep NV’s holdings in McCormick & Company, Incorporated were worth $1,571,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of MKC. Janney Montgomery Scott LLC purchased a new position in shares of McCormick & Company, Incorporated during the third quarter valued at $20,227,000. Hemenway Trust Co LLC grew its holdings in McCormick & Company, Incorporated by 71.5% during the 3rd quarter. Hemenway Trust Co LLC now owns 140,362 shares of the company’s stock worth $11,552,000 after acquiring an additional 58,511 shares in the last quarter. Wellington Management Group LLP increased its position in McCormick & Company, Incorporated by 21.7% during the 3rd quarter. Wellington Management Group LLP now owns 139,728 shares of the company’s stock valued at $11,500,000 after purchasing an additional 24,881 shares during the period. Oppenheimer & Co. Inc. raised its holdings in shares of McCormick & Company, Incorporated by 57.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 40,077 shares of the company’s stock valued at $3,298,000 after purchasing an additional 14,652 shares in the last quarter. Finally, Qsemble Capital Management LP bought a new stake in shares of McCormick & Company, Incorporated in the 3rd quarter valued at about $1,104,000. 79.74% of the stock is owned by institutional investors.

McCormick & Company, Incorporated Stock Up 1.2 %

Shares of MKC stock opened at $80.15 on Monday. The stock’s fifty day moving average price is $76.33 and its 200 day moving average price is $78.44. McCormick & Company, Incorporated has a 1-year low of $65.72 and a 1-year high of $85.49. The company has a market cap of $21.49 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.74 and a quick ratio of 0.31.

McCormick & Company, Incorporated (NYSE:MKC) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. McCormick & Company, Incorporated had a net margin of 11.73% and a return on equity of 14.89%. On average, research analysts expect that McCormick & Company, Incorporated will post 3.07 earnings per share for the current fiscal year.

Insider Buying and Selling at McCormick & Company, Incorporated

In other McCormick & Company, Incorporated news, Director Margaret M. V. Preston sold 28,092 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $77.03, for a total transaction of $2,163,926.76. Following the sale, the director now owns 6,177 shares in the company, valued at approximately $475,814.31. The trade was a 81.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MKC. Jefferies Financial Group raised shares of McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $91.00 in a research note on Monday, December 9th. Barclays reduced their price target on McCormick & Company, Incorporated from $85.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. TD Cowen raised McCormick & Company, Incorporated from a “hold” rating to a “buy” rating and raised their price objective for the company from $86.00 to $90.00 in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of McCormick & Company, Incorporated from $66.00 to $69.00 and gave the stock an “underweight” rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $83.75.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.